Setting up a trust fund is a means of securing the welfare of people and organisations you care about. Trusts are the ideal means to ensure that your assets are managed and distributed according to your wishes. In Malta, a modern legal framework for trust structures provides flexibility and certainty to those who wish to establish their trusts.
Through the assistance of Integritas, you can rest assured that your assets securely reach the individuals, charities, and institutions you desire and that your legacy is guaranteed.
What is a Trust?
Trusts are accounts established to preserve finances and other assets for use by the designated beneficiary (an individual, group, or entity).
The purpose of a trust is to protect the property for the benefit of the beneficiaries. A trust may be created during the settlor’s lifetime or by will.
Creation of Trusts in Malta
Trusts can be created through an instrument in writing, including a will. A unilateral declaration of trust is also possible in Malta, and such is a declaration in writing made by a trustee stating that he or she is the trustee. It contains all terms of the trust and the names or information enabling the identification of all beneficiaries.
A trust may also come into existence by oral declaration. An exception is a unit trust which requires a written instrument. A trust may also come into existence by operation of law or by a judicial decision.
A mandate or a deposit is presumed rather than a trust where assets are held, acquired or received by a person for another based on oral arrangements of a fiduciary nature, express or implied, unless there is evidence that the creation of an oral trust was intended.
A trust can continue until the 125th anniversary of the date on which it came into existence. If it is not sooner terminated, it shall end. This limit does not apply to a trust for a charitable purpose or to a unit trust.
Malta Trust Registration Assistance, Regulatory Environment, and EU Recognition
The Trusts and Trustees Act, Chapter 331 of the laws of Malta, regulates the setting up of trusts in the country. Such law allows for the creation of trust and authorisation and supervision of trustees. The establishment and regulation of trusts in Malta are legitimised to keep with Maltese national law.
The provisions of the Hague Convention on the Law Applicable to Trusts and on their Recognition (which Malta has ratified) are incorporated within Malta’s Trusts and Trustees Act.
Being an autonomous public authority constituted and regulated by the Malta Financial Services Authority Act (MFSA Act), the MFSA provides a seamless regulatory function for financial services and is the governing authority on Trusts in Malta. The MFSA is responsible for authorising, regulating, and supervising trustees in Malta. It also houses the Registry of Companies.
Malta Trust Services
We will ensure that your trust will be enacted precisely according to your needs. To achieve this, Integritas works strictly and in alignment with MFSA guidelines.
The professionals at Integritas are trained to satisfy the MFSA’s rigorous requirements to keep up with MFSA’s demand to achieve the highest standards of probity and honesty.
Integritas can assist you in establishing the following:
- Trust for a child’s education
- Trust for a scholarship or award
- Trust for a charitable organisation
You can schedule an appointment with us to discuss which type of trust would best fit your needs.
Trusts are essential to Maltese law, and Integritas is here to assist you with all your needs. We offer a wide range of trust services in Malta, from setting up trusts to managing them on your behalf.